a16z Crypto is raising $2 billion for its fifth fund

According to Fortune magazine, the largest players in the crypto venture capital space are returning to the fundraising market. a16z Crypto, the blockchain investment arm of Andreessen Horowitz, is currently raising its fifth fund.

Several insiders, speaking on condition of anonymity, revealed that the firm's fundraising target is approximately $2 billion, with plans to complete the fundraising by mid-2026. Led by seasoned investor and entrepreneur Chris Dixon, a16z Crypto launched its first fund of $300 million in 2018. The previous year, the blockchain boom had driven Bitcoin prices to soar to $20,000. Each subsequent fund has been larger than the last, peaking in 2022 with a fund of up to $4.5 billion, which is still actively investing.

Although the latest fund is less than half the size of the previous one, one insider stated that a16z Crypto plans to shorten the fundraising cycle to better seize opportunities arising from the rapidly changing trends in the crypto industry. Previous funds were completed within one to two years of each other.